Russia's oil production up 2.7 percent in January-April

Russian oil extraction reached 179.75 million tons in the first four months of 2016, a rise of 2.7 percent compared to the same period in 2015, authorities said on Tuesday.

From January to April, Russia's crude exports stood at 77.29 million tons, an increase of 6.1 percent compared with the same period last year, according to the Russian Central Dispatch Administration of Fuel and Energy Management.

Meanwhile, natural gas extraction dropped by 0.6 percent to 219.5 billion cubic meters, and electricity generation grew by 0.1 percent to 378.9 billion kilowatt-hour.

Electricity exports dropped by 14.9 percent to 4 billion kilowatt-hour for the same period.